BTIG lifts Expedia PT as hotel demand strengthens growth prospects
EXPE•BTIG raises target on Expedia
BTIG hikes its price target on online travel company Expedia EXPE.O to $400 from $350 and reiterates its rating at "buy".
The new price target implies an upside of about 18% to the stock's last close.
Hotel demand and pricing support outlook
The brokerage says mixed website traffic trends at Expedia are being offset by improving hotel demand and firm hotel-air pricing.
It adds that stronger hotel demand and room-night trends could help Expedia's Q3 bookings exceed guidance.
Brokerage positioning and stock performance
16 of 38 brokerages rate the stock "buy" or above, while 22 rate it "hold", according to data compiled by LSEG.
As of the last close, the stock was up 19.70% year to date.
